CJSC Enel-OGK-5 becomes first anchor tenant of Pavlovsky Business Center (RU)

CJSC Enel-OGK-5, one of the leading wholesale power generating companies in Russia (the joint venture of Enel, the largest Italian power generating company and one of the largest energy companies in the world, and OGK -5, Russian energy producer established as the results of restructuring of RAO UES of Russia) has signed a lease agreement for office premises in Pavlovsky Business Center.


Pavlovsky Business Center has a total rentable area of 11,924 m².

Central Properties is the developer of Pavlovsky Business Center. Cushman & Wakefield, international consultants, represented both parties in this deal.

CJSC Enel-OGK-5 will occupy office space totaling 4,750 m² on floors 6, 7, 8 and 9 of Pavlovsky Business Center, which is approximately 40% of the total rentable area of the business center. The move-in of the company is planned for October 2010 upon the completion of fit-out works. As agreed by the parties the fit-out will be carried out by Central Properties based on the tenant corporate style requirements.

Pavlovsky Business Center, with the total rentable area of 11,924 m², consists of 10 surface and three underground floors. It is located at the south of Moscow within approximately 800 meters from the Garden Ring and 1 kilometer from the Third Ring Road on 7, Pavlovskaya Str., bldg. 1. Construction of Pavlovsky Business Center started in 2008. In July 2009, construction woks were finished and the operation permit was obtained; in February 2010 the ownership title was received. Pavlovsky Business Center was nominated as 'Best Class-A Business Center, 2010' at the Commercial Real Estate Moscow Awards 2010. MD Facility Management is the facility management company in Pavlovsky BC.

Dmitry Kiritopulo, First Deputy Chief Executive Officer, Central Properties noted, "We are glad that at the office market of the capital with the high competition among the landlords such a large and quality tenant as CJSC Enel-OGK-5, has chosen Pavlovsky Business Center to locate its Moscow Head Quarter. This consolidates the success of our team in the producing of high quality office product as well as confirms the effectiveness of our proactive approach which let us to receive a competitive advantage and to work effectively with the project team of CJSC Enel-OGK-5 by providing this company with a maximum comfort and confidence in the correctness of choosing of Pavlovsky Business Center during the whole negotiations process."

Mark Pollitt, Partner, Head of Office Agency, Cushman & Wakefield, pointed out, "This tenant was very discerning in their choice of building, not just in terms of location and technical specifications but also the professionalism of the landlord and their ability to transact. Central Properties demonstrated an enthusiastic approach to meeting this tenants selection criteria and securing a deal."

Source: Cushman & Wakefield

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